Employment Agreement With Severance Clause In North Carolina
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§ 96‑14.6. (a) Disqualification. – An individual who the Division determines is unemployed for misconduct connected with the work is disqualified for benefits. The period of disqualification begins with the first day of the first week the individual files a claim for benefits after the misconduct occurs.
Despite this, many employers in North Carolina offer severance packages to departing employees. While there are no laws requiring them to do so, providing a severance package can be beneficial for employers.
First you can simply ask. The offer of severance is not a legal obligation. It is an attempt by the employer to assure that you will never make any claims against it. Some times simply asking for more can trigger a discussion, but do not count on it. Especially in a RIF where many people are involved.
Despite this, many employers in North Carolina offer severance packages to departing employees. While there are no laws requiring them to do so, providing a severance package can be beneficial for employers.
“If any term of this Agreement is to any extent invalid, illegal, or incapable of being enforced, such term shall be excluded to the extent of such invalidity, illegality, or unenforceability; all other terms hereof shall remain in full force and effect.”
Here is an example of a termination clause: “Party A and Party B have the right to terminate the Contract under material breach, change in circumstances, insolvency, and mutual agreement. To terminate the Contract, the terminating party must provide 30 days of written notice to the other party.
How to Structure a Severance Agreement Determine Eligibility: Decide which employees will be offered a severance agreement based on company policy or specific circumstances. Consult Legal Counsel: Work with an attorney to draft the agreement to ensure compliance with federal and state laws.
